Chapter $01$ Exercise $66$ LO $1-6$

Audits may be characterized as

a$.$ Financial statement audits.

b$.$ Compliance audits.

c$.$ Economy and efficiency audits.

d$.$ Program results audits.

The work can be done by independent $($external$)$ auditors, internal auditors, or governmental auditors $($including IRS

auditors and federal bank examiners$).$ Following is a list of the purposes or products of various audit engagements:

Required:

For each of the engagements listed, indicate

The type of audit $($financial statement, compliance, economy and efficiency, or program results$).$

The type of auditors you would expect to be involved.